Finding money for national priorities
Many people believe the unmet priority needs of the USA itself include infrastructure, ecology, training and on-line learning, health care, full employment and income therefrom, energy, pensions, and similar satisfactions of major deficits in our national supply of material wealth and money to help us create it. To virtually all persons who focus on such needs there is an associated need to "find money" to pay for a start on the path to their full satisfaction -- and then complete the journey as far as democracy, technology and inflation-protected savings can take us. Some such people would radically reform central banking -- even change banks into non-bank finance companies like GMAC or CIT. I believe the best immediate change need not be that radical. Rather, the best immediate change will be for Congress to enact specific laws that establish the authority of the United States to borrow directly from the Federal Reserve exact amounts of money. These laws would provide that Congress will repay such loans whenever it decides repayment is in the national interest. The loans, while not repaid, will be free of any interest, fee or other cost to the United States. This immediate change will allow Congress to provide for the common defense and promote the general welfare, in part, without collecting taxes or paying interest in connection with outstanding amounts of money, for as long as hyperinflation or the fear thereof, does not recommend against it. It may well be that further change to our monetary system of production,(to achieve robust economic success, and to eliminate all poverty and substandard living conditions and industrial harm to earth,) will not be advisable. The value of ordinary central banking practices and fractional reserve banking may be far greater than critics believe. The only taxes that may survive the immediate change recommended here are expected to be anti-inflation transaction taxes. Individual and personal income taxes would be discontinued. In considering and debating each loan of a specific sum, Congress will consider the size of the loan in relation to the gross national product or gross domestic product. It will also consider the vote required to borrow or pay back each loan: a majority of, say, 55% of the legislature, may be preferred to a simple majority. *Inflation is, I am learning, a misnomer and is rather deflation of the original value of the original dollar. Our fractional reserve banking system and the fiat currency being constantly reprinted has been diluting the value of our money since the Federal Reserve Act of 1913 passed. Meanwhile the International bankers who run the Federal Reserve (corporation) are making huge profits by means of interest on paper loans that costs them nothing (let's not mention digital keystroke loans). Congress is very unlikely to buck this system which is not even up for discussion anymore, excluding Rep Ron Paul of Texas of course who keeps talking about it. An alternative would and could get us out of debt and have all the money necessary for any priorities and then some. All that and a retiring of the need for taxes. It would mean a return to the gold standard which carries a discipline many politicians "on the take" would surely vote down. Defense spending could then be looked at on par with all other issues instead of getting the disproportionate share it currently enjoys. This alternative can be seen and explained at www.globalallianceassn.comand I believe it is our patriotic duty in light of serious decline we face to be apprised of all our options.--Bluemoon 23:00, 28 August 2006 (UTC) Category:Economy